McKesson earnings drop but sales climb

RussBritt

LOS ANGELES (MarketWatch) -- Drug distribution giant McKesson Corp.
MCK, -0.38%
said Thursday that third-quarter net income was $64 million, or 28 cents a share, compared with $298 million, or $1.24 a share, for the same period a year ago. Sales for the San Francisco-based company were $34.31 billion against last year's $31.1 billion. The company said adjusted earnings were $1.45 a share, but added that several one-time charges were included. Analysts polled by FactSet had predicted earnings of $1.82 a share. Sales were forecast to come in at $33.56 billion. The company said it expects full-year earnings for the fiscal year ended March 31 to reach $8.05 to $8.20 a share, which excludes several one-time gains and losses. McKesson shares ended trading Thursday up more than 2% to $177.23.

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